According to Crain’s Detroit, “Crittenton Hospital Medical Center, a 254-bed nonprofit hospital in Rochester Hills, is up for sale…In 2013, Crittenton Hospital lost $22.2 million on operations, an increase of 38 percent from 2012’s operational loss of $16.1 million, according to the hospital’s audited financial report. Powell attributed the loss to decrease in patient volume and a changeover to a new accounts receivables system.
Total revenue dropped 6.3 percent to $228 million last year, primarily due to lower surgical volume and debt write-offs, he said. Assets increased 8 percent to $438.1 million last year from $406.6 million in 2012….”
About Tom and Ann Gendich
What can you tell me about the sale of Crittenton Hospital. I hear that an announcement is forthcoming. How will it impact the Unions & pension plans & jobs.
We’re working on a story about the sale, look for it soon, thank you.